7 Best Cryptocurrencies You Should Buy In 2020
The year has not been one of the best years one could hope for. No matter how terrible it seems, there are lots of good things happening and billions being made consistently. Don’t you want your share of the billions?
Cryptocurrency is still yielding profits even though it hasn’t been at its peak, but if you learn the ropes, you can make loads from it. As of August 5, 2020, there are about 6,088 crypto coins with a total market cap of about $337.28 billion (according to CoinMarketCap).
Are you interested in investing this year? Then it is only in your best interest to know which crypto coins are the most promising, although it not an easy task to take on. Here, you can find the list that we have put together of the top crypto coins to invest in this year.
But before diving into the analysis, you must have a basic understanding of the main reasons you should invest in any of these cryptocurrencies.
Why Invest In Cryptocurrencies at all?
There has been a popular argument about Cryptocurrency being the future of finance. The fact is that that’s not an entirely crazy statement to start with, but we must know that it will take years to come true finally. Cryptocurrency offers many merits over traditional fiat money, such as transparency, transaction fees, and lower fees.
What about looking at it from an investor’s perspective? Is it a genius for me to invest in cryptocurrencies? You need to consider these five main reasons:
Liquidity: all crypto exchanges are always active 24/7, making it easy to trade, buy, and cash out your assets whenever you want to.
Amount: virtually everyone can get their hands on cryptocurrencies because fractional investment decreases the minimum investment barriers.
Transparency: the blockchain technology is transparent; it records every transaction, available to everyone around the world. As an investor, you get an ultimate level of transparency.
Diversification: the vast number of cryptocurrencies available enables you to diversify your portfolio to minimize risks quickly.
Fees: cryptocurrencies offer lesser fees in comparison to traditional investment assets.
Which Cryptocurrency Should You Invest In?
Now that you have a clear understanding of the benefits of cryptocurrencies let’s discuss the best cryptos to invest in 2020. This list is not exhaustive in any way but simply based on the potential of these coins to show significant growth in the months ahead this year.
- Bitcoin (BTC)
Best Cryptocurrency To Invest In — BTC
There is no way to start this list without bitcoin being the first as it is the world’s most popular Cryptocurrency and most valuable. Undoubtedly, the fame of this Cryptocurrency already gives it an edge of thousands of digital coins in the market.
In as much as BTC remains at the top of the crypto coins market, global investors will always enjoy massive benefits from its high liquidity levels. For years now, since the inception of Bitcoin, it has been volatile but still maintained consistent growth.
Pro tip- Bitcoin Halving for 2020 is fast approaching, and the cryptocurrency community looks forward to the coin reaching a new historical peak.
2. Ripple (XRP)
Best Affordable Cryptocurrency
Although this coin is ranked the third Cryptocurrency market capitalization, we believe it is enormous potential as the second instead. Ripple (XRP) has a reliable network and technology, making it one of the most promising investments on this list. It is also opening new opportunities rapidly in the field of banking, international commerce, and payment networks.
Big companies like MoneyGram (a remittance giant), European money transfer service called Azimo, and others rely heavily on this coin. Experts already forecasted that 2020 would bring about a higher adoption of Ripple (XRP), which implies that its price will significantly rise.
3. Litecoin (LTC)
Best Cryptocurrency You should Invest In — Litecoin
Litecoin is another crypto coin that you should not put aside in 2020. LTC is considered one of the fastest and most affordable digital currencies that has been significantly used in payments. It has a technology-forward profile that puts it on the third rank by market capitalization.
Compared to Bitcoin and Ethereum, the only cryptocurrencies above Litecoin, this coin offers excellent potential at an outstanding and affordable price level. Each LTC coin trades for about $100 currently, which gives a significant number of investors the chance to jump in.
4. Ethereum (ETH)
Best Cryptocurrency You should Invest In — Ethereum
There is no need for a special introduction here. Ethereum has so far been more influential than Bitcoin even it is not as popular. The main reason is simply that the Ethereum blockchain is an enabling platform for many other projects to develop on top of it.
Its price is currently a bit over $200, still very much accessible for anyone just taking off in the cryptocurrency space. The strength of this Cryptocurrency is primarily due to its excellent network strength. As the ecosystems and applications rely on the Ethereum blockchain to become more decentralized, the ETH tokens become more powerful. Even though it’s not likely for this coin to catch up with Bitcoin, there’s still great potential for it in the months ahead.
5. Neo (NEO)
Best Cryptocurrency You should Invest In — Neo
NEO is an open-source, community-driven platform that utilizes the blockchain technology to optimize the digital economy.
The Genesis Block created about 100 million NEO tokens. Investors got half of the total tokens, and the remaining was locked into a smart contract. Each year, a sum of 15 million tokens is released to support the NEO development team’s long-term goals.
Since 2019, NEO has nearly doubled its price from $7.50 to the current $11.00. although it is still a risky investment, it’s low price makes it easy to get on any portfolio. The market cap of this Cryptocurrency is about $790 million.
6. Zcash (ZEC) — Best Privacy Coin To Invest In
Best Cryptocurrency You should Invest In — Zcash
Do you have the fantasy of privacy with Bitcoin? Think again. Most of these cryptocurrencies can be tracked down to their owners by blockchain companies and governments. Does that mean the privacy dream is impossible? Not exactly. Zcash is the option for those holders searching for real privacy.
Similar to Bitcoin, Zcash has a total fixed amount of 21 million ZEC coins. Apart from its privacy capabilities, ZEC is just like other cryptocurrency assets like Bitcoin or Litecoin. Zcash was created mainly for peer-to-peer value transfers.
Zcash’s price is relatively close to the overall market performance. In 2019, this privacy cryptocurrency got to a peak value of $112, a dynamic aligned with Bitcoin’s mid-year rally. This implies that as long as Bitcoin continues to increase positively, it’s much likely for Zcash to follow.
7. Stellar (XLM)
Best Cryptocurrency You should Invest In — Stellar
Stellar is one of the most famous projects out there. The coin has been around since 2014, which means that its developing and getting stronger consistently. With its price currently still on cents, it’s among the most affordable cryptocurrencies you should invest in.
Stellar (XLM) ‘s primary goal is to take over the SWIFT system, thereby disrupting the global money market. Through XLM tokens, the Stellar network makes cross-border transactions between different currency pairs possible. One extraordinary characteristic of Stellar is that it serves as a backbone for other crypto coins — hence, giving Stellar an excellent opportunity to develop itself further and scale higher.